#diagonalmarbarcelona

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#papanoel esta de camino! #diagonalmarbarcelona (en Diagonal Mar Centro Comercial)

[coldwell-banker-sant-cugat-eng]

German Bank Now Owns Diagonal Mar

The Deutsche Bank recently purchased the Diagonal Mar shopping center for €495 million rm Northwood; this was the most expensive mall real estate transaction in Spanish history. Before now the record for the most expensive shopping center transaction stood at €451 million for the Intu property which was bought by Puerto Venecia. The Diagonal Mar property was valued at €505 million but was adjusted downwards.

In 2015 Northwood bought the Diagonal Mar property from Irish bad bank Nama for €150 million so they made a good profit on the Deutsche Bank sale. The Diagonal Mar property is located in District 22@ Barcelona and has been bought and sold several times since its construction. The property covers 100,500m² and can be used for offices, stores, residential purposes and even as a hotel. 

The Diagonal Mar center occupies prime Barcelona real estate only 5km from the city center on Avinguda Diagonal. It offers 200 outlets which means a high potential for profits for the new owners.

Diagonal Mar is the name of the shopping center and the neighborhood which is best known for its triangular-shaped forum building, urban park and the three-storey shopping center. The center is connected to the adjacent luxury hotel. The center includes a bowling alley and a large outdoor area used for open air cafes and landscaped gardens and courtyards. The center also has a massive parking area, cinemas and restaurants. The Deutsche Bank was not the only candidate which put in a non-binding bid for Diagonal Mar.

The Future of Diagonal Mar Shopping Center

In the future the Deutsche Bank plans to invest €30 million in the property over the course of four years. Among the changes they intend to make there will be renovations to the upper level of the shopping center and refurbishing of the other floors. The exterior façade will also get a face lift to the tune of about €7 million. The plan is to increase Diagonal Mar’s potential to bring in profits and over the course of five years show an increase in profits from €20 million in 2015 to €26 million.